Article on how to fix the Economy

[The Conch Man Past Goumba President & BigFrank's Cigar Buddy! Find all posts View Profile Close The Conch Man]

This sounds like a real winner to me. Yes. Yes. Yes.

This is from an article in the St. Petersburg Times Newspaper on Sunday. The business section asked readers for ideas on "How would you fix the economy?" I think this guy nailed it!

Dear Mr. President:

Please find below my suggestion for fixing America's economy.

Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the Patriotic Retirement Plan.

There are about 40 million people over 50 in the work force.

Pay them $1 million a piece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - unemployment fixed.
2) They MUST either buy a house of pay off their mortgage - housing crisis fixed.
3) They MUST buy a new American CAR. Forty million cars ordered - auto industry fixed.

It can't get any easier than that!

If more money is needed, have all members of Congress and their constituents pay their taxes...

[joycapecod Silver Contributor Find all posts View Profile Close joycapecod]

Q

I agree. I would gladly "retire" had my 401 K and IRA not sunk to next to nothing and I had $1 million in the bank. I would be so there; I'd even buy a new Chrysler, Saturn or Pontiac. I know my DH would love a new Ram truck to replace his older Ram truck.

My home is paid for, but I could certainly use some remodeling. Would love a new kitchen and let's not forget the bathrooms. Yes, where do I sign up; point me in the direction!

Joy

[SteveChapin Senior Member Find all posts View Profile Close SteveChapin]

There are about 40 million people over 50 in the work force.

Pay them $1 million a piece severance for early retirement with the following stipulations:

While the idea sounds amusing, there's one itsy-bitsy, teeny-weeny problem: 40,000,000 * 1,000,000 = 40 trillion dollars.

The current much-criticized bailout comes at under $2 trillion, including the original bailout and the stimulus package.

sc
--

[The Conch Man Past Goumba President & BigFrank's Cigar Buddy! Find all posts View Profile Close The Conch Man]

Your Right!

I agree with the $40 trillion Steve, I was only reading the article & not doing the math but the concept is there, it'll never be accepted by our leaders regardless whoever is in office!